After a Huge Party, Bitcoin Investors Face a Hangover

Bitcoin exchange-traded funds, which fueled a rally for most of 2025, became net sellers last quarter, unloading around 73,000 bitcoins since Oct. 10, according to data provider CryptoQuant.

The rise of artificial intelligence has dragged capital and investor attention away from the crypto market. Highly anticipated initial public offerings from AI companies such as Anthropic may continue to dominate market attention.

Bitcoin miners—the companies that own warehouses of computers that unlock new bitcoins—are changing their business models to cater to AI.